And this type of long term medical insurance may adjust the insured's renewal rate because of the product's high payout rate.
That means that even during the guaranteed renewal period, the insured's renewal is due to the payment of premiums is uncertain. However, the product terms and conditions of the rate adjustment made obvious provisions,
Specifically as follows:
1, the conditions of insurance rate adjustment
Previous year's product rate of 85% and above;
Previous year's product rate ≥ previous year's industry average claim rate;
China's basic medical insurance system has undergone significant changes.
2. The upper limit of insurance rate adjustment
The rate adjustment will not be higher than 30% of the rate before adjustment.
3. Time limit for premium rate adjustment
The terms and conditions stipulate that the first rate adjustment for this product cannot be encountered on December 31, 2023, and the interval between each rate adjustment cannot be less than one year.
Insurance is meant to be a secure and reliable protection; it has been extended to become a protection mechanism, a tool for financial planning, a basic means of risk management in a market economy, and an important pillar of the financial system and social security system.
Insurance refers to the policyholder according to the contract, pay premiums to the insurer, the insurer for the contract may occur due to the occurrence of accidents caused by the loss of property liability, or the insured person death, disability, disease, or reach the age of the contract, the period of time, and other conditions of the commercial insurance behavior of the insurance responsibility to pay the insurance premiums.
From the economic point of view, insurance is a financial arrangement to share the loss of accidents; from the legal point of view, insurance is a contractual behavior, one party agrees to compensate for the loss of the other party, a contractual arrangement; from the social point of view, insurance is an important part of the social and economic security system, is the social production and social life, "exquisite stabilizers"; from the perspective of risk management, insurance is a method of risk management. From the perspective of risk management, insurance is a method of risk management.
Value of insurance
The value of insurance is the actual value of the subject matter of insurance. According to China's Insurance Law, the policyholder and the insurer agree on the insurance value of the subject matter of the insurance and set out in the contract, the subject matter of the insurance in the event of a loss, to the agreed insurance value as the standard for compensation calculation.
The policyholder and the insurer did not agree on the insurance value of the subject matter of the insurance, the loss of the subject matter of the insurance, the actual value of the subject matter of the insurance at the time of the occurrence of the insurance accident as the standard for compensation calculation.
In brief, the insurance value can be determined by three methods:
1, according to the law and contract law, the law and contract law is the fundamental basis for determining the value of the insurance;
2, according to the insurance contract and the parties agreed. Some of the insurance value of the subject matter of the insurance is difficult to measure, such as life insurance, health insurance, human body and life can not be measured in money, then its insurance value to the agreement of the parties;
3, according to the market price changes to determine the insurance value. The insurance value of some insurance subject matter is not always the same. Most of the subject matter will also be depreciated over time, the insurance value of a downward trend.